In a press conference, TV Narendran, MD of Tata Steel India, told CNBC-TV18 that the activity in the highway sector is boosting steel demand and there is a demand pick-up in transmission and railways as well.
Tata Steel posted its fourth quarter net loss of Rs 3,279 crore, worse than Street estimates, although its business in India remains strong as it clocked a net profit of Rs 676 crore on the domestic front. In a press conference, TV Narendran, MD of Tata Steel India, told CNBC-TV18 that activity in the highways sector is boosting steel demand and there is a demand pick-up in the transmission and railways as well. He further said that steel prices are sustainable at current levels and expects EBITDA to improve in the coming quarters.